Drive Wealth Management LLC Increases Holdings in Colgate-Palmolive (NYSE:CL)

Drive Wealth Management LLC increased its stake in Colgate-Palmolive (NYSE:CL) by 9.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,432 shares of the company’s stock after buying an additional 211 shares during the quarter. Drive Wealth Management LLC’s holdings in Colgate-Palmolive were worth $252,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital City Trust Co. FL boosted its position in shares of Colgate-Palmolive by 0.8% during the third quarter. Capital City Trust Co. FL now owns 59,430 shares of the company’s stock valued at $6,169,000 after buying an additional 483 shares during the period. Braun Stacey Associates Inc. purchased a new stake in Colgate-Palmolive in the 3rd quarter valued at about $23,961,000. Richard C. Young & CO. LTD. grew its stake in Colgate-Palmolive by 6.0% in the 3rd quarter. Richard C. Young & CO. LTD. now owns 88,949 shares of the company’s stock worth $9,234,000 after acquiring an additional 5,020 shares in the last quarter. Quest Partners LLC raised its stake in shares of Colgate-Palmolive by 69.6% during the third quarter. Quest Partners LLC now owns 31,829 shares of the company’s stock valued at $3,304,000 after acquiring an additional 13,066 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in Colgate-Palmolive by 39.8% in the third quarter. Thrivent Financial for Lutherans now owns 90,023 shares of the company’s stock worth $9,345,000 after purchasing an additional 25,645 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Colgate-Palmolive news, CFO Stanley J. Sutula III sold 45,410 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $94.11, for a total value of $4,273,535.10. Following the transaction, the chief financial officer now directly owns 36,726 shares of the company’s stock, valued at $3,456,283.86. This trade represents a 55.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Martina Hundmejean sold 2,313 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $103.86, for a total value of $240,228.18. Following the transaction, the director now directly owns 11,755 shares in the company, valued at $1,220,874.30. This trade represents a 16.44 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. UBS Group increased their target price on shares of Colgate-Palmolive from $119.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Hsbc Global Res lowered shares of Colgate-Palmolive from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Stifel Nicolaus lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and decreased their price objective for the company from $105.00 to $101.00 in a report on Monday, October 28th. Jefferies Financial Group lowered Colgate-Palmolive from a “buy” rating to a “hold” rating and reduced their target price for the company from $103.00 to $95.00 in a research report on Wednesday, July 24th. Finally, HSBC reaffirmed a “hold” rating on shares of Colgate-Palmolive in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.11.

Colgate-Palmolive Stock Up 1.2 %

CL opened at $94.65 on Tuesday. The stock has a market capitalization of $77.33 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 3.34 and a beta of 0.42. The company has a fifty day moving average of $99.06 and a two-hundred day moving average of $98.55. The company has a debt-to-equity ratio of 9.46, a quick ratio of 0.68 and a current ratio of 1.04. Colgate-Palmolive has a fifty-two week low of $75.17 and a fifty-two week high of $109.30.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.11%. The ex-dividend date was Friday, October 18th. Colgate-Palmolive’s payout ratio is presently 57.31%.

Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.